Corelogic buys FNC for $475 million

Corelogic Inc
CLGX, -1.32%
announced Thursday the acquisition of FNC Inc. for $475 million in a deal that it hopes will help the company's property-valuation software. FNC's technology helps check collateral information and more in the property-appraisal process, a core component of Corelogic's Valuation Solutions Group. "We expect property valuation to be an area of significant future domestic and international growth," Corelogic Chief Executive Anand Nallathambi said in Thursday's announcement. Corelogic hopes to close the deal, financed with cash and debt, in the first quarter of 2016, and expects it to be accretive to earnings next year.

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